. A memorandum of understanding (MoU) has been signed between Nepal Police and Rastriya Banijya Bank Limited. KATHMANDU: Nepal Police and Bank of Nepal (NPC) have signed a memorandum of understanding (MoU) for the operation of Salary Saving Account and loan of Nepal Police.
As per the agreement, incumbent and retired, martyr and disabled police personnel will be able to get home loan up to Rs 5 million and vehicle loan for 7 to 10 years.
Professional loans will be available up to Rs 15 lakh and pensioner loans up to Rs 5 lakh.
The interest rate on home loans has been fixed at 1.75 per cent, 1.
75 per cent for car loans and 1 per cent for education loans. The contract has been renewed for five years.
Similarly, in case of death or total disability in case of accident, insurance up to Rs 5 lakh will be provided.
